Agents and Underwriters: What planets are you from?
By Louie Castoria, Esq. of Wilson, Elser, Moskowitz, Edelman & Dicker LLP
If men are from Mars and women are from Venus, what planets are underwriters and insurance agents from?
It turns out that it's not only the sexes that have differing worldviews that sometimes lead to failures in communication. According to a survey conducted by Gail Strauss of MCM Research and reported in the March 26, 2013, edition of PropertyCasualty360, insurance agents and underwriters at the carriers with which they place business can have a disconnect. And it isn't necessarily due to the fact that underwriters are predominately female (59% of the group) whereas agents are predominately male (58% of the group).
Drafting the Enforceable Arbitration Agreement
By Marc Zimet, Esq. of Jampol Zimet LLC
Limitations Revisited
Coverage for Acts of the Dishonest Services Contractor →
Employers frequently include in their employment agreements an arbitration clause, hoping that in the event an employee ever sues them, they can avoid lengthy and costly litigation in favor of stream-lined arbitration. Arbitration can offer numerous benefits to an employer, such as reduced publicity and less exposure to punitive damages and runaway verdicts. However, more than one employer has found out the hard way when an employee claims it didn't know what it signed that such agreements aren't always enforceable.
Insurance Producer's Complaint for Judicial Review of License Revocation Dismissed for Failure to Exhaust Administrative Remedies
By Donald A. O'Brien, Esq. of Hinshaw & Culbertson LLP
Plaintiff insurance producer was employed by USA Retirement from 2008 through 2010, during which he obtained his insurance producer license in 2009. Plaintiff held seminars on estate planning issues and met with customers regarding estate planning issues. In March 2010, USA Retirement went into receivership when the SEC filed a complaint against the managing partners. Four customers contacted the Illinois Securities Department (ISD) and complained about plaintiff's conduct and alleged that he led them to invest in fraudulent products and caused them to lose their life savings. In June 2010, the ISD issued a temporary order prohibiting the plaintiff from selling or offering securities based on allegations of fraud. Plaintiff failed to contest that temporary order and the order became final.
Name and Address Changes for Insurance Licensing?
By Barbara Donnar, CEO of Supportive Insurance Services
So you've gone through the process of obtaining insurance licensing in multiple non-resident states. It took a while, but you now have all the licenses you need. You have appointments with your carriers and you're all set to begin writing business. Nothing else needs to be done, right?
Shhh...Loose Lips Sink Ships: Confidentiality During Commute
By Seth L. Laver, Esq., Mark R. Cramer, Esq., and Jessica L. Wuebker, Esq. of Goldberg Segalla LLP
Although studies vary, by most accounts we spend anywhere from 20-50% of our waking hours at work. Reportedly, nearly 10% of U.S. workers have commutes of 60 minutes or longer and the average one-way commute is about 30 minutes. What does this tell you? We're either working or commuting a great deal. As a result, it's probably no surprise that professionals may gab about work-related issues while commuting. But therein lies the risk. Ethical responsibilities prohibit professionals from disclosing confidences, yet we may be more susceptible to a slip-of-the tongue during an informal conversation away from the office. Do the same ethical rules governing in-firm communications apply during a quiet conversation in a taxi or train? Of course they do yet recent data suggests that many professionals forget the importance of confidentiality during their commute.
|
